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REGISTERED NUMBER: 10697058 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

PROSPERITY SOUTHSIDE RESIDENCES
LIMITED

PROSPERITY SOUTHSIDE RESIDENCES
LIMITED (REGISTERED NUMBER: 10697058)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


PROSPERITY SOUTHSIDE RESIDENCES
LIMITED

Company Information
for the Year Ended 30 June 2023







DIRECTOR: J E Billingham



REGISTERED OFFICE: c/o BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
Lancashire
M3 2DF



REGISTERED NUMBER: 10697058 (England and Wales)



ACCOUNTANTS: BTMR Limited
Century Buildings
14 St Mary's Parsonage
Manchester
M3 2DF



BANKERS: Barclays Plc
79-84 High St
Birmingham
B4 7TE

PROSPERITY SOUTHSIDE RESIDENCES
LIMITED (REGISTERED NUMBER: 10697058)

Balance Sheet
30 June 2023

30.6.23 30.6.22
as restated
Notes £    £   
CURRENT ASSETS
Stocks 6,421,031 5,880,000
Debtors 4 598,247 630,788
Cash at bank 7,697 230,155
7,026,975 6,740,943
CREDITORS
Amounts falling due within one year 5 10,469,764 5,268,684
NET CURRENT (LIABILITIES)/ASSETS (3,442,789 ) 1,472,259
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,442,789

)

1,472,259

CREDITORS
Amounts falling due after more than one
year

6

6,667

4,724,767
NET LIABILITIES (3,449,456 ) (3,252,508 )

CAPITAL AND RESERVES
Called up share capital 8 260,000 260,000
Retained earnings (3,709,456 ) (3,512,508 )
SHAREHOLDERS' FUNDS (3,449,456 ) (3,252,508 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 19 March 2024 and were signed by:





J E Billingham - Director


PROSPERITY SOUTHSIDE RESIDENCES
LIMITED (REGISTERED NUMBER: 10697058)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Prosperity Southside Residences Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Stocks
Stocks have been valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow-moving items. Cost is calculated on a first in, first out basis. In respect of work in progress, contracts are assessed on a contract-by-contract basis as contract activity progresses. The valuation includes a prudently calculated element of attributable profit, which is referenced to the stage of completion, anticipated sales value and additional costs required to complete the contract.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 2 ) .

4. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
as restated
£    £   
Amounts owed by group undertakings 2,500 -
Other debtors 595,747 630,788
598,247 630,788

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
as restated
£    £   
Trade creditors 29,095 23,500
Amounts owed to group undertakings 4,656,686 4,446,297
Taxation and social security 7,956 21,393
Other creditors 5,776,027 777,494
10,469,764 5,268,684

PROSPERITY SOUTHSIDE RESIDENCES
LIMITED (REGISTERED NUMBER: 10697058)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.6.23 30.6.22
as restated
£    £   
Other creditors 6,667 4,724,767

7. SECURED DEBTS

The following secured debts are included within creditors:

30.6.23 30.6.22
as restated
£    £   
Other loans 4,534,800 4,718,100

Other loans are secured on the long leasehold land owned by the company.

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.6.23 30.6.22
value: as restated
£    £   
259,999 Ordinary shares 1 260,000 260,000

9. ULTIMATE CONTROLLING PARTY

The controlling party is Prosperity Investments and Developments Limited.

The ultimate controlling party is J E Billingham.